SAMA seeks public input on Comprehensive Motor Insurance Rules changes
Riyadh, October 01, 2023, The Saudi Central Bank (SAMA) is soliciting public input on proposed changes to the Comprehensive Motor Insurance Rules. Stakeholders are encouraged to submit their suggestions and comments via the Public Consultation Platform at the National Competitiveness Center.
These rule revisions intend to broaden insurance coverage to encompass relatives, private drivers, and sponsored individuals of the insured. However, the changes limit coverage scope to individual clients, affording corporate clients more flexibility to tailor their insurance policies to suit their unique requirements.
Feedback and recommendations on the draft amendments will be accepted for a period of 15 days from the date of this announcement to assess their relevance in the finalization of the rules. The draft document can be accessed on the Public Consultation Platform hosted by the National Competitiveness Center.